Doing your Due Diligence
by Rick Chitwood
I start each day reading quotes from mentors such as Zig Ziglar, Jim Rohn, Brian Trace, etc.
I usually post at least one quote per day on Facebook and/or Twitter.
Today I read and shared a quote by Brian Tracy which, because of the way I build my teams, was especially interesting to me.
“Incorrect assumptions lie at the root of every failure. Have the courage to test your assumptions.” Brian Tracy.
I have been amazed for years at how many people will make decisions based upon assumptions rather than facts. They make decisions based upon the opinions of others who have no history of success or of making the right decisions. They make their decisions in life based upon what their friends and relatives tell them instead of asking people with the facts.
One quote from an unknown source that I have used for years is, “Accept nothing without examination. Reject nothing without examination.” That quote was in my sig line for years.
It has always been my opinion that people who will make snap decisions before they have all of the facts are not the types of people who that are usually successful. I try to identify people who make assumptions without getting the facts and sort them out of consideration as someone I want as a business partner.
I look for people who are willing to make an effort to get the facts before making a decision.
In fact, the system I have used for years is designed to identify people who make decisions without facts as quickly as possible so as not to waste a lot of time on them.
My system is to ask them a three second “opening line” to see if they are open to getting some facts. If they are open, my next step is to get them enough information to see if they have interest in getting additional information.
I always point out that they don’t yet have enough information to make an informed decision, but it is an opportunity to see if they are still open to learn more or if it simply is of no interest to them.
My next step is to schedule a time when they have 24 minutes to view a webinar where they are told they will get 95% of the answers they have to their questions. I point out that without viewing the webinar they will not have enough information to make an informed decision and that it is worth 24 minutes to get the facts before making a decision.
I am amazed by the number of people who express real excitement about viewing the webinar but will tell me they have decided it is not something of interest to them before watching the webinar.
The way I see it, one of three things has happened since the time they were excited about watching the webinar and keeping the appointment.
1 – They made some invalid assumptions without getting the facts.
2 – They spoke with an “expert” who knew nothing about the opportunity.
3 – The went to the internet to get “facts” from people who knew nothing about the opportunity and were promoting their own.
In any event, anyone who would make a decision without taking 24 minutes to get the facts is not the type of person who will be successful at any opportunity. I am disappointed that I misjudged them, but happy I did not waste more time on them.
It all goes back to my belief that 97% of the people in MLM fail because they take advice for the other 97% who fail instead of investing a few minutes in due diligence.
In my 23 years full time in the industry, I have never made a decision without doing my due diligence. I know what it means to “ass-u-me”.
One rule I would never vary from when doing my due diligence is that I insist on personally speaking to several people who are multi-six figure earners in any opportunity I would even consider. Because I insist on getting my facts from people who have succeeded, rather than people who have failed, I include the opportunity for my prospect to personally speak with as many successful people in my opportunity as they would like.
I have included many of the criteria I use in making a decision on my web site at http://www.ucantoo.com/multilevelmarketing.htm
Rick – Paying it Forward
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